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Leading brokers name 3 ASX shares to buy

Many of Australia’s leading broker have once again been busy factoring new data into their financial models and adjusting their recommendations accordingly.

Three shares which came out favourably are listed below. Here’s why brokers think they are in the buy zone:

Bingo Industries Ltd (ASX: BIN)

A research note out of Macquarie reveals that its analysts have initiated coverage on the recently-listed waste management company with an outperform rating and $2.33 price target. Its analysts appear to be attracted to a growing industry with low levels of cyclicality. I like the reasonably defensive nature of the waste management industry. As a result, I think Bingo Industries could be a good option for investors today.

Janus Henderson  (ASX: JHG)

According to a research note out of Bell Potter, its analysts have initiated coverage on Janus Henderson with a buy rating and massive $57.50 price target. Bell Potter clearly believes the fund manager’s shares are cheap right now, as its price target implies potential upside of over 30% from the last close price. Whilst it wouldn’t be my first choice in the industry at this point, I do feel it could be worth a closer look.

Qantas Airways Limited (ASX: QAN)

Following a survey of Australian travellers, analysts at UBS have reiterated their buy rating on the airline’s shares and raised their price target to $5.90. According to the note, the survey revealed that Qantas has an improving competitive position over its rivals. The investment bank also reiterated its sell rating on Virgin Australia Holdings Ltd (ASX: VAH) shares. I’m a big fan of Qantas and believe that the tailwinds from low oil prices, cost-savings, and improved domestic trading conditions have put it in a great position to profit.

As well as Qantas, I think these fast-growing shares could be classed as strong buys today.

Each has been growing earnings at an explosive rate and look set to continue doing so for the foreseeable future in my opinion.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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